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Search Results 0 to 49 of about 95 (some duplicates have been removed)
, detroit's bankruptcy is hurting investor's miles from michigan. plus, why soda is becoming a harder sell. and, here's man's new best friend: why more chickens and roosters are moving away from the farm. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's monday, august 12th. i'm angela miles. in today's first look: is the summer rally slipping away? the major indicies all fell friday, ending down for the entire week. it's the first weekly decline since june as traders fret over the fed's next move. gold was a gainer by $4. oil added on $2.63 apple shines in its patent case. the internationl trade commission ruled that samsung infringed on iphone patents owned by apple. samsung is expected to appeal. and aol has turned into a chatter stock. shares rose 2% friday on speculation the internet company is planning drastic cuts or that it may shut down its local news sites, called patch. scott shellady of trean group joins us on this monday morning. happy monday morning to you, scott. - good morning. - how critica
're watching fox. keep watching. we will not stop watching out for you. ♪ ♪ >> david: well, first detroit goes bust. will new york and chicago be next? the mayors of those two cities warning that their public pension costs are growing totally out of control, which is really what did in detroit. and many other cities are facing the same time bomb. is this proof it's time to scrap public pensions before they all go bust? hi, everybody. i'm david asman. welcome to "forbes on fox." let's go in focus with steve forbes, john candy, rich carlguard, elizabeth mc donald. should we scrap the public pensions? >> yes. get rid of them. what is public service? a sacrifice. it's supposed to be a short-term sacrifice before you go to the private sector to produce real economic growth. the problem now with high government pay and the big pension plans is we're creating life long government workers that are a burden on the people working in the real economy. if you get rid of them, they have incentive to get in the real world and cities will no longer have pension problems. >> david: well, rick, and the pension
to them now one last time. starting with salmon that bee in detroit, sam, any updates? i know things are pretty grim over there. >> oh, john t is worse than you could possibly imagine. >> right. >> a once proud american institution brought to its knees by gross mismanagement and incompetent leadership. you know, you wonder if it will ever again be the icon it was once. >> but sam, on the other hand, detroit is resilient, will will bounce back, shortly opinions detroit, no, i'm talking about the daily show. >> come on. >> it took decades to bring detroit to its knees but you destroyed the daily show in like three months. >> whoa, whoa, whoa. go a little easy. >> you're faster than ebola. what? >> i would say that i'm speaking truth to power but you have to power and whatever power you thought you had ends in about six minutes which is less time than it takes to make a hot pocket, but enough time i'm sure for you to [bleep] the show even further until it begs to be put out of its missery. >> thank you, samantha. let's go to jessica williams, jess, where exactly are you. >> i'm in front
on to detroit. the city is bankrupt, and finances are in the hands of a manager, but even so voters will turn out for a primary to choose a new mayor. what power would the new mayor wield and who wants that job anyway? >> some really good people want the job. it's quite remarkable. a former sheriff. a form prosecuting attorney. a number of state legislators. really quite -- quite an impressive field considering the reality of the circumstance, which is that governor rick snyder, a conservative republican governor has used a law that he wrote, governor snyder, that the people of michigan rejected in a referendum, that the people of detroit rejected by a 4-1 margin. he has rewritten the law and imposed it. it allows him to take control of the city of detroit's governance and basically steer it whatever direction he wants. most of the candidates for mayor think steering it towards bankruptcy is a bad idea. but in reality they are running for an office where they will basically be spectators to the governance of their city. that's a tragic circumstance. it is anti-democratic at the most extreme.
, a bipartisan group of senators spoke in opposition to the measure. >> a once great city, detroit, lies in ruins. 50,000-barrel dogs from the city , abandoned houses ledger the landscape. it is a bleak and for large future that awaits detroit. creditors clamor for nearly $20 billion in debt. city employees wonder if there will be paid. there is not enough money to even replace the street lights and the trick. god forbid a major fire break out. at some level i think the president does care about detroit, but today all i can see is the billions of dollars, the billions of american tax dollars that he chooses to send overseas i see that shiny new technology, america's best going to harm people who are indifferent to us and at worst take us. the president sends billions of dollars to egypt in the form of advanced fighter planes and tanks. meanwhile, detroit's crumbles. chicago is a war zone. more people die in chicago this year than in afghanistan. if the president insists on building a $34 million board in afghanistan, hillary clinton insists on spending $80 million on a consulate in afghanistan th
points lower than june. detroit emergency manager apologizing after calling some of the city residents those names. and the nfl hit with another concussion lawsuit. 83 former players led by pro-bowlers. they say they are suffering long-term effects from brain injuries sustained during their playing days. and we're watching the market this hour of "markets now." ♪ connell: those headlines show you there is a lot going on-9 today. we will get to the mess in egypt in just a moment, but first, our market today with the selloff, seeing the biggest decline in a couple of months. nicole petallides starts us off on the floor of the new york stock exchange. nicole: you are absolutely right. the lowest point, the biggest move to the downside since june 20. down about 1.5% right now. back on june 20 the dow dropped over 2%, this is the biggest moving percentage terms since that time. you have a couple of names that are weighing on the do dow jones industrial, better-than-expected economic news. walmart and kohls are two names we are following closely. as well as cisco systems. walmart higher p
. appreciated. >> detroit is now the largest u.s. city to file for bankruptcy it cannot match it -- manages self. >> were at the end of the road. we can borrow any more money. john: detroit was -- now in such a wreck. >> for $1,500 you could buy this house. john: for years politicians promised that they would fix detroit. >> detroit show again become the great city that is its destiny. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves rich. john: is there hope for places like detroit? >> it will turn around the city of detroit. >> the motor city. this is will we
in detroit right now is cheap. you can buy a house there if you want, but no one wants to right w. all right. so go elsewhere. >> all right. is part of the solution credit? >> i thought that was how we developed alaska, incentivizing people out there. but the government's had a role of developing this country. the private sector is strong enough now to hale the for profit housing market. there is a way to make money from a lot. there's all of these funds that are buying dilapidated properties. however, when you have a situation that's uneconomic where there is no free market solution, that's when it becomes the role of government. when you've got a house that's dilapidated, it's not going to go away if it's worth nothing like in detroit, for example. otherwise it's like a manmade disaster like a dust bowl. we have to fix up our own mistakes we made. >> okay. john, you've heard it all. >> frannie and freddie are going away, why aren't you celebrating? >> i was just in france, and, believe me, they like texan wearing cowboy boots as much as i like them right now. we're pretty much even. the pr
, a debt overhang discourages new capital from coming in. if you don't know, think of detroit. would you lend to detroit today? you wouldn't. you would want to find out what happens to others who lend to detroit. there is the longer-term agenda. that has to do with potential growth. that speaks to education. it speaks to some micro things that we should be doing. one of the problems of the fed being the center of attention is it diverts discussion away from other things. there is this whole set of other things that are more important for us and for the next generation, that this whole narrative have shifted away from. >> as chief of the white house global council of economics, what types of new projects are you working on? >> you have promoted me. [laughter] i am grateful to be chair of the council on global development. the notion is very simple. part of securing u.s. national security and economic future and living in a global neighborhood that is more prosperous. it has had numerous advantages. the idea is to contribute and bring in outside perception. we are a council made of people
to avoid a detroit. >> i hea teachers accused of horrible things, they can't get fired, they have to set in a rubber room, i would fire them, let them sue me if i broke the contct, let them sue me for getting a child molest o molestf the city payroll, i am prepared to deal with that, there is hardly a politician today that could get elected without having to make a promise. neil: look at new york, one of the priest teen cities in -- pristine cities, this is the best we could do for candidate >> i agree. neil: so why condition guys like -- can't guys like you, bloomberg said i don't like the way it is going, why not you? >> i am a private person, i am doing this interview, i have turned down a lot. neil: i know, i appreciate it. >> i don't like going on television. >> you are good at it. >> i don't know about that. i want my private life, i don't want to be out in the public. neil: it is a hassle, that is the problem. >> i would love to be. neil: i talked with a lot of successful guys they say look at stuff theyel any on and focus on --el any onel dwell on. >> i would love to be mayor if
to say we did have the money toank get involved. that argument. >> detroit is now the>> largest u.s. city to file for bankruptcy. it cannot manage itself we're at the end of the road we cannot borrow any morewe money. >> what happened b? it was once prosperous nown s it is iraq. >> for $1,500 you can buyhn this house for years politicians could say they could fix d street. that is its. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves rich. john: is there hope for places like detroit? >> it will turn around the city of detroit. >> the motor city. this is will we d
have seen -- i grew up in the city of detroit which of course is like the polar opposite of what is happening in san francisco these days. the median price of a house in $9,000 and the city is going through this extraordinary upheaval and those jobs have been lost through the city to other regions and other parts of the country and people weren't paying attention and i really do believe -- and i know this is my bias and detroit made 80 years of bad planning decisions and part of the reason it's in the situation it is today and i really think the years of good planning in san francisco have really made a difference. i'm sorry commissioner. >> i want to thank you for your presentation. i think you're definitely a big picture guy, but you did say there that you have somebody working on that application the minute it comes in the door, the big stuff, and i know we're talking about the port today and the big stuff, but it's still the small stuff which also supplies housing and jobs in san francisco. it's still taking far too long. i know you have tried very hard to improve the com
discourages new capital from coming in. if you don't know, think ofwould you lend to detroit today? you wouldn't. you would want to find out what happens to others who lend to detroit. growth. that speaks to education. it speaks to some micro things that we should be doing. one of the problems of the fed being the center of attention is it diverts discussion away from other things. things that are more important for us and for the next generation, that this whole narrative have shifted away from. what types of new projects are you working on? >> you have promoted me. [laughter] i am grateful to be chair of thepart of securing u.s. living in a global neighborhood that is more prosperous. it has had numerous advantages. the idea is to contribute and bring in outside perception. we are a council made of people from very different backgrounds and experience. it is a wonderful collection of people. we have gotten to know each other over the last few months and we are working on a few major initiatives. >> how do weerica's rejuvenate the american economy? >> i think we need strongerour elected offic
. chemical war is a terrible thing, but we have detroit bankrupt, we have illegal aliens, we have so many things in this country that he to be taking care of her it would don't seem to have the time to take care of it hurt i say we should deal with the issues in this place and then we go out and help others. that is all i have got to say. here's what a couple of senators had to say. now is the time for decisive action. the u.s. must rally our friends and actions to take limited to return actions and serious. using standoff weapons without boots on the ground and at minimal risk to our men and women in uniform, we can sit if you can lead assad's airpower and listed missile capabilities and help establish safe areas on the ground. john mccain, lindsey graham, both republicans and united states senate. we have a democrat on the line now. surely from ermine ham alabama -- surely from birmingham alabama. uest: >> brought: assad has not anybody over your to kill us, but our american congress is killing and our american government is killing people right here in the united states. let's fix home
with civil rights activists through detroit's gross point suburb in 1963. that's 50 years ago. the editorial information on that ap photo notes romney said he had not been asked to head the parade, but added since he was in the detroit area, he decided to come out anyway. in other words, he didn't wait for an invitation. he made sure he was there. in this 1966 reelection -- his 1966 reelection for campaign for michigan governor, romney won 30% of the black vote. one generation later in the same family, mitt romney wins 6% of the african-american vote. by the way, here is a great picture. where i grew up in. jackie robinson and nelson rockefeller. he told reporters he was a rockefeller republican. you had jackie robinson, lionel hampton, all those people, famous people, wilt chamberlin, a lot of people were republicans. today you can't find them. >> a lot of our families were. i can go back in my family, especially my family in north carolina, and there were a lot of republicans. but when the party changed, you know, blacks decide we needed to go to a plays where we were welcome and where we
. >> reporter: at only 21,000 production cars a year tesla isn't going to outdo detroit in volume any time soon. but when it comes to innovation the company is cornering the market. for "cbs this morning," ben tracy, fremont, california. >> great story. elon musk is a very interesting guy with a remarkable background in silicon valley. and he's been proven right here. i mean he's done something everybody that i know who has one loves it. >> i know. i never thought of electric cars as looking very cool. that is very cool. and it even makes that sound. >>> elmore leonard certainly changed the crime novel. he used to tell other writers, try to leave out the parts people skip. we'll listen to some of his conversations with charlie coming up on "cbs this morning." for pain and swelling? apply cold therapy in the first 24 hours. but not just any cold. i only use new thermacare® cold wraps. targettemp technology delivers a consistent, therapeutic cold to stop pain and start healing. new thermacare® cold wraps. a better way to treat pain. bacon?! gotta get that bacon! smokey bacon, cr
're going to see that -- >> in detroit. >> stop it. >> women. it's just going to be horrible. >> all right. >> how can you make cars when you're doing that? it's now -- it's now an industrial problem, willie. >> all morning -- >> why do you think the japanese are beating us? >> miley cyrus. >> miley cyrus. >> we're actually going to take an in-depth look at the causes of the financial crisis that gripped the city and the innovators who were working to dig it out. coming up today on "morning joe" -- >> and twerking. >> stop it. >> chris mathews will be joining us along with the "washington post" david ignatius, financial times gilleyen tett and dr. nancy schneiderman. up next the top stories in the politico playbook. bill karins with a check on the forecast. >> good morning. as far as the rim fire went in california yesterday, firefighters got a little bit of control. not a lot. we went from 7% containment to 20%. it's still threatening the drinking supply, the reservoir that supplies 80% of the water to san francisco. worried about the ashes contaminating the water as the fire continues to
, in chicago, detroit, philadelphia, and all over this nation, the black masses are on the march for jobs and freedom. >> in the five decades since, john lewis has become an icon of the civil rights movement, a hero who faced down brutal southern police in the name of freedom and was beaten bloody for daring to do so. today, he is a 14-term congressman from georgia. recently, he and i returned to the national mall in washington to remember that day in 1963 and the march that changed america. >> people were all the way down. and you just saw hundreds and thousands of individuals. i'm john lewis, and i was the youngest speaker. ten of us spoke. i spoke number six. dr. king spoke number ten. and out of the ten people that spoke that day, i'm the only one still around. >> congratulations. >> what's that? >> congratulations. >> thank you very much. >> it was a great moment in american life. >> you were his friend? >> yeah. i got to know dr. king. i met him in 1958 when i was 18. but i first heard of him when i was 15 years old in the 10th grade. we worked together. we marched together. we got
in detroit, protecting the pensions of people attacked by a financial manager. they were affected by the changes of what took place in detroit. they've been spending a lot of time trying to straighten that out. >> a reminder 50 years ago this was a march for jobs and freedom, organized largely by a. phillip randolph, the great labor leader and the issue of union rights, labor rights, workers rights has always been deeply interconnected with civil rights in this country. >> there's no question about it. the unions are a little nervous as this continuing attack on collective bargaining, continual attack and the introduction of legislation in right to work states, this is being introduced. local elections are taking ahold and attacking workers and depressing wages. this is a big part of what afsme has been focusing on. they're at the pinnacle of the fight right now of what's going on in michigan. >> it's almost impossible to imagine how we can talk about closing a racial inequality gap without also talking at the exact same time about the economic equality that is so critical in our
and more than half of the company's 1.3 million u.s. employees are on its health care plans. >>> in detroit a federal judge moved up the a hearing on the city's eligibility for bankruptcy. instead of october 23rd, egin on september 18 to determine whether detroit is insolvent and if the city negotiated in good faith with its creditors. >>> texas is home to four out of top five cities for u.s. business. baltimore was fourth and hughes to infifth. rankings are based on growth rates, local taxes and regulations. >>> that's the latest from the fox business network, giving you the power to prosper. lori: who wants to intentionally step on broken glass when you go to the beach? well some florida beach communities are actually talking about putting it in the sand. joining me now from miami beach is fox's phil keating. hi, phil. >> hi, there. down here in florida, sand is is like gold. it draws millions of tourists every year which contributes $70 billion to the state's economy. believe it or not because of erosion constant along the coastline, you can see it with the three or four foot drop down t
pittsburgh, 64 detroit, 70s in washington. there is your radar, your shower activity front royal, very close to showers, thunderstorms. we'll track the progress over the next couple of hours. should be through the region early afternoon. it will take a few hours to clear for you. all of you are in good shape even at the beaches. talk about saturday and sunday, both beautiful, low to mid 80s, low humidity. a great looking weekend. 84, saturday and sunday look good, monday and tuesday look good, highs mid 80s. >> thank you, tucker. >> let's check in with steve hershorn on the roads. >> 14th street bridge 395 little volume. to get through the work zone, same configuration. a lane blocked each way. northbound on 395. you'll slow down to get passed the exit for the 3rd street tunnel. south capitol street, bit of a back up approaching fredrick douglas memorial bridge up to nats stadium, accident heading inbound on south capitol street. look for delays as you approach the bridge. one lane blocked over to 270 montrose road down to the beltway, looking good. here we are on the beltway, a little bit o
his swim yesterday morning, belle island, detroit. his odyssey monday morning. when he started he was pulling two dinghies carrying 334 bricks. ha. when finished he was only pulling one. >> nuts. the swim was a fund raiser for habitat for humanity. dryer said symbolic. despite michigan and detroit struggles. he wanted to show we don't have to sink under the weight of our burdens. >> should be clear it wasn't that he was carrying one brick. one dinghy. half the amount of bricks he had when he started. still incredible feat. and good cause too. >> unbelievable. he said the hardest thing going against the current most of the way. swimming in waves, two to three feet during the day. three to four feet during the night. that slowed down his progress. i think he did just fine. >> check this out apparently had a couple hallucinations along the way one at night he describes a vegs ision of jesus ghost ships out there as well. the cold, temperature, just having to be in so much mobile, mobility all the time, you, you, lose it. little bit. >> kept on going. >> he did. coming up. who says ha
dakota has the lowest at just 3%. >>> today was deadline day in detroit for creditors to file objections to the city's filing for chapter 9 bankruptcy protection, and dozens of creditors did just that. most of the earliest objections came from individual retirees worried about their pensions and benefits. the largest creditors in the case plan to file a joint objection. >>> more violence in egypt today. the death toll is now more than 1,000. since protests against the ousted islamist president mohamed morsi erupted last week. now a court ruled to release another ex-president, mubarak. that could trigger more unrest. here is the latest from cairo. >> reporter: it's been another turbulent 24 hours for egypt. starting off with violence in the northern part of the sinai peninsula where we understand that 25 police were ambushed and executed with a machine gun. three of them remain critically injured. that comes off the back of an attempted prison break, we understand from the egyptian ministry of interior, where 36 supporters of president mohamed morsi were killed. the violence is likely to
as the corners of the country and in texas. >> if you're flying, airport delays are possible in detroit, salt lake city and las vegas. >>> now, to a stunning allegation this morning about a legendary tennis match that captivated the country 40 years ago. >> the faceoff between billie jean king and bobby rigs was billed as the battle of the sexes. now, there's word that rigs may have thrown the match. guy owe benitez has more. >> reporter: it was dubbed the battle of the sexes. september 20th, 1973. one of the top tennis players ever, bobby rigs, came out of retirement, to challenge one of the world's greatest female players, billie jean king, and lost. now, in an espn "outside the lines" exclusive, this man tells what he kept secret for 40 years. hal shaw said months before the match, he overheard two mob bosses saying rigs owed the mob a gambling debt of more than $100,000. >> they brought up the name of bobby rigs. that he will make it look and appear that he's trying his best. but billie jean king is just overwhelming him. >> reporter: billie jean king calls the story ridiculous. >> i woul
who came to detroit in 2009. this is more -- is more general. i think if anything's changed it's that in the aftermath of the attack on our facility in benghazi and the deaths there of four americans and the continuing ha la ba lu from congress about embassy safety, people just want to err on the side of taking extra precautions. they don't have the same kind of specificity here they've had in other threats. what they have is significant personalities being involved in the threat stream and i think that's why they take it seriously. >> we are living in a post-benghazi world and benghazi drives so much of this. >> exactly. so richard haas, talk a little bit about -- what's the president's for closing -- precedence for closing 22 embassies and this al qaeda resurgence. >> let me start with the latter. people are focusing on the u.s. reaction which i think is appropriate. the bigger story this is the new normal. this is now a middle east where you no longer have countries that are essentially controlled by their governments. it's been the case in pakistan for some time, which is w
. and facing the bankruptcy of detroit generates public pension do have the limits. and many are facing the same financial sectors for detroit. >> give up benefits or risk lay offs. >> thank you, doug in dc. >> we have new details on the horrific story of a child who was beaten up on his school bus. >> the video captured national attention a couple of weeks back. get them out of here. they are still doing it. >> leave that by alone. live him alone. you know, you are going to jail. you all are going to jail. >> the driver had nightmares for weeks on what he witnessed and tried to stop verbally. those boys aed of boating the 13-year-old. the victim was viciously hit and you can see they are kicking him and over and over again. it is a horrible scene for the 13-year-old boy. phil keating is watching it play out in court today. hello again, phil. >> all three of the 15-year-olds are charged with aggravated battery as juveniles and the judge told them they are luky they are only 15 and otherwise they would be facing felony charges and serious prison time. all three suspects each appeared wit
new york, chicago and detroit, right here in d.c., white people aren't being killed or killing, it's blacks and hispanics, in new york city. i'll leave you with this note. in 2009 in new york. blacks represented about 25% -- 24% of the population. they were doing 66% of the killing. so i'm sorry, we need to -- and we need to move beyond this discussion, and we need to talk about the root cause of what's bringing the black race down, and really get with that, that's what we're not dealing with, and that's what i find unacceptable. >> does it trouble you at all that 88% of the stops that are police are doing result in the release of the person? so if there's a reason to stop the people, they're stopping, how come so many of them are innocent. >> it's kind of like when i see crime in my neighborhood, and i see a suspicious person. the first thing, i see someone breaking into a car about the first thing the police officer asks me, miss wright, what's the person's race. i don't think this is racial profiling, this is profiling for suspects. what we know, the suspects are over 90% hispan
detroit worked and experience all of its own. but there's been a marriage between the civil rights movement and the social justice movement for a long time. and as we come to this 50th anniversary, i can recall watching mr. randolph, and certainly dr. king, in that sort of electrifying speech that was given that day, and i want to go back something myrlie said earlier, and that is the movement, i mean the media has really played with our mind for a long time. you know, the most exciting part of dr. king's speech and when te that gave folks so much energy was when he talked about his dream, both for himself, his people and the nation as a whole. but dr. king said some stuff before he got to that part of the speech. that you very seldom hear folks talk about. he was just talking about we came to washington, d.c. you know, which was in a sense of promissory note written by the founders of the nation that spoke to the fact that we were entitled to some stuff. life, liberty, the pursuit of happiness. and when i heard the speech, i was a young leader, a local unit of about 5000 folks. i
of detroit in the throws of bankruptcy and countless other cities teetering on the brink, there is a fierce urgency to act now. if the big auto makers and major financial institutions were too big and too important to fail, why is not the same true of the major urban centers which are populated by millions of poor blacks and brown and white hungering for nothing more than a decent job to provide for themselves and their families? why shouldn't historically black colleges and universities desperate for stability be given the assistance which will enable them to continue their noble mission of educating both the best, brightest, as well as the least of these? as we struggle to recover from the worst economic calamity since the great depression, america needs a new marshall plan for our cities to provide jobs, infrastructure improvements, and a true lasting stimulus to the economy. while we are inspired today by the majesty of power of my father's exhortation of yesterday year we must be mindful of this imperative of love. he sought the beloved community where we could live together with peace
Search Results 0 to 49 of about 95 (some duplicates have been removed)